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Us 14, U.s. 11, California 7, New York 6, Cyprus 6, Nike 6, Washington 6, Wayne Rogers 5, Europe 5, S&p 5, Grover Norquist 4, Advair 4, Pepsi 4, Nicole 4, Tiffany 4, Obama 3, Alabama 3, Nicole Petallides 3, Connell 3, Ibm 3,
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  FOX Business    Markets Now    News/Business.  
   Business news. New.  

    March 22, 2013
    11:00 - 1:00pm EDT  

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stuart: this is it. the highlight reel for the entire week. the first thing i ate and america 40 years ago was a twinkie. [ laughter ] stuart: we will follow this story. charles: you that bill maher was good. >> time of the revolutionary war presumably, you are not there then. stuart: seen through yoga pants. a plus or a minus. nicole: it is a major minus. stop it. stuart: that is it. a pretty good week. monica, thank you very much. charles, thank you very much.
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now, dagen and connell. connell: good to see you as always. thank you, sir. dagen: i am dagen mcdowell. connell: i am connell mcshane. we are talking about obamacare three years later. dagen: healthcare costs is one reason companies are not hiring permanent full-time workers. by 2020, 40% of us will be working as freelancers. connell: a cyber threat for small u.s. businesses. just how dire the situation is. dagen: march madness. total madness. harvard ousting new mexico last night. love it. it is crazy. those stories and so much more coming up on markets now.
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♪ connell: all right. let's do this. no basketball to watch yet. the stocks now every 15 minutes. nicole petallides. good morning. nicole: we have a market that is higher today across the board. not focusing too much on europe today at the moment. taking off and going back to what it has been used to which is plenty of up aeros. sitting at 14,000, almost 14,500. we are also seeing a majority of the dow component in the green. hewlett-packard and disney are the best of the bunch. on the downside, united healthcare is the loser of the
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day. we are watching names that came out with their quarterly numbers. we will continue to watch what happens in cyprus. dagen: thank you, nicole. tomorrow marks the third anniversary of the affordable care act. it may be anything but affordable for some. health insurers are telling insurance brokers that prevailed for many individuals could increase sharply next year. more than doubling for some consumers who are buying their own insurance plans. that news making way to the nation's capital. joining us from there is democratic political strategist and former press secretary to al gore. christie, to you first. this flies in the face of what the obama administration has
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been saying. >> i would say consider the messenger. there is no question that they are telling people that your rates will go up and premiums will rise. they know that these changes will create more competition because consumers will be able to log onto an easy website, have a lot more choices on who they want to ensure them. dagen: fried, they are not making it up. they face a lot of restrictions. they also have the reduced ability to set rates based on age. that, obviously, you will have
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higher premiums as a young healthy individual because you have to bear the cost of that. >> that is not the case. dagen: i am asking brad. >> rates have already gone up. they went up even before obamacare had passed. they have to create huge reserves for the new people who are coming on board. my rates have already gone up. they are telling their brokers, look, not only will your business model change, but rates will increase for your customers yet again. the government has created such restriction on the marketplace. it is no longer free market. businesses are finding ways to skirt the laws. they are making full-time employees part-time employees.
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it does not help the 15 million unemployed. dagen: when president obama said if you like your health insurance, you can keep it. people will be faced with that choice if they work for a small company and they decide to drop coverage. >> that is unfortunately not true, dagen. the fact is that prices should actually go down. insurance companies have a great incentive to actually reduce their rates. there will be more people paying. there will be a very few of us that are not insured. dagen: they cannot charge market rates for people with health conditions. they are limited to what they can charge older people. some people's premiums will go up. younger people, healthier people at small businesses. >> that should not be the case.
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young healthy people will have a good incentive to get into the market as opposed to paying a penalty. dagen: this is what the cbo said in the obama administration has said. if this does not come to pass, what does the obama administration do about it? the senate is trying to shoot down this tax on a medical device maker. >> the medical device packs is something that is a pretty bipartisan bill. you will not see a lot of bipartisanship there. dagen: brad, final word. do we really know what this will cost us as a nation and individuals?
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>> we look no further to the entitlements that the government had to perform before obamacare. medicare, renegade is going bust on its own. we created a whole new entitlement program where we could not even administer properly and provide the coverage to those already admitted. it is on a pathway to unsustainability unless something is done to change those programs. i have no confidence that obamacare will have any more success than the two programs i mentioned. dagen: thank you both. the well. connell: senators getting set for a marathon with back-to-back voting. they will be voting on amendments that protect the budgets. dagen: rich edson is live in washington, d.c. with more.
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rich: most of them are designed to get the other party to take difficult votes. the republican amendment drew more than 30 democrats in support. budgets are not laws. they do not repeal laws. they are nonbinding resolutions. that allows republicans to claim more than half. the house and senate will attempt to resolve the differences and negotiate a single budget. the senate minority leader says there is no chance that happens. >> i do not think there will be an agreed decision. it looks like we are on different planets. rich: they are spending guidelines.
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the president's budget is mostly a suggestion to congress. this year it will be delivered to lawmakers after they already delivered a budget. that is an unprecedented two-month delay. connell: we moved back to the markets on markets now. our next guest has taken it and applied it to the stock market. you are up in the boston area. i am sure they are all worked up about the harvard game last night. a pretty big win for harvard over to mexico. in the market we are dealing with these big issues. you have turned them into a bracket in and of themselves. you have come up with what is your final four. the economy versus policy and fundamentals versus market.
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the policy in washington, d.c. and the economy which you could argue is getting better. >> it will be an amazing face-off. you mentioned harvard and cyprus. it has been a sweet 16 weeks for the stock market. that is a record unbeaten since 1989. cyprus this week halted that rally. we are seeing better job growth here. take a look. that's a cluster that is taking in, it will cost us 750,000 jobs this year. connell: the big interrupter, we have another good day today for the stock market. do you think washington can
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still upset at? >> i do. as we look at some of the other brackets, we are getting into the pre-announcement season for earnings. we have a number of positive valuations. when you look at just 1% earnings growth and those numbers being revised lower, hard to see the market. connell: you are worried, specifically about what type of a pullback. make your case. >> i think we are very close to that pullback. i think what we will see is it is maybe not the drivers that we are used to or we heard about over the course of the last few weeks. as we get into april, we started to see the market begin what we call the spring slide.
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market dynamics, volume has been very light in this market. we are moving higher, but we are down a bit this week. connell: it is a creative look. we combine basketball and the market. thank you, jeff. >> my pleasure. dagen: get a grip. pepsi redesigned its bottle for the first time in years. is slippage really that big of a problem? connell: we will get into that, i guess. farmland is a big investment. jeff flock telling us if there is a bubble brewing in this market. jeff is straight ahead on market now. first, a quick shot at the oil market. ♪ ♪
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connell: charles payne in just a minute. quarter past illegal to nicole petallides. nicole: when you talk about what they are selling, nike is obviously doing well. future orders are looking good. obviously, nike is a big winner.
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our friends from alabama. i am wrapping it up. look at how great they look. this year, new york and the new york stock exchange. dagen: hey y'all. connell: you scared them off. [ laughter ] connell: nicole petallides at the new york stock exchange. dagen: everybody knows everybody. connell: time to make a little money with charles payne. charles: i was going to ask nicole if they knew my mom. she lives in alabama. tell her i said hi. [ laughter ] charles: walter energy. this has been an absolute disaster for me. i think this stock is so oversold. it is a coldplay.
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you need a winter to need it. then we had the epa. even though prices have been down, not to the degree. this stock -- connell: is this argument that you are making this morning different? something changed or at some point? charles: great question. love the way it has been acting. it has made a nice move all the way up to $40. even if it is just a double bottom, viewers can probably make a really good trade. prices are starting to turn around. really high quality stuff. either you can get a trade out of this, longer-term, i think this stock would be grand. good thing is, we are both
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young. dagen: pray for cold weather. connell: thanks. this speaks volumes in some ways to the u.s. jobs market. a new report is out for the year 2020. 40% of us will not be working full time. we will be working as freelancers. dagen: the cyber threat. small businesses are the most vulnerable. a lawmaker is here to tell us how dire the situation is. a look at the dollar. ♪ [ male announcer ] you are a business pro. gornor of getting it done. you know how to dance...
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>> at 23 minutes past the hour, i have your fox news minute. a marine shot and killed two comrades in virginia before turning the gun on himself. the shooter was a candidate at the school. the two victims, a male and female, were both active duty marines. syrian president is vowing to
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wipe out extremists after a homicide bomber struck in damascus. and 84-year-old cleric was one of the strongest supporters. eighty-four people were wounded in that explosion. president obama visited the memorial to honor the holocaust. president obama now heads to neighboring jordan for talks with the king. those are your headlines. back to kabul. connell: thank you very much. the american workforce will be freelancers by the year 2020. more and more people wanting to work a flexible schedule.
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small and personal businesses will increase over the next seven years. dagen: pepsi is rolling out a new look for its soto bottle. there is a new contour on the bottom of the bottle that is supposed to make it easier to grip. the company says it will hit store shelves next month. you can take a look at pepsico. connell: harvard, if you watched this game late last night, pulled off the first major upset of the season. it was a pretty big shot when they beat the third-seeded new mexico. the funny thing is, last year's
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team was supposed to be better than this years. they had not been in the tournament since 1847. next time up they will play, i believe, arizona. dagen: you did a good job. connell: that is a new policy we have here. will we cover up the mistakes, we point them out. i did not say it. dagen: i was trying to pay you a compliment. you are quick on your feet. connell: thank you very much. dagen: wayne rogers is coming up. he is worried. he feels more cities and towns are moving towards bankruptcy. connell: looking forward to that. the cyber threat we have been reporting on.
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dagen: wayne rogers says we are a knowing this and he is worried about this. more cities and towns will go
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bankrupt. wayne is here to tell you what to do about it. the cyber threat to our economy and why lawmakers are now paying attention. the price of being a farmer. there are risks. jeff flock takes to the field this half hour. connell: let's go back to nicole at the new york stock exchange. nicole: a pretty good day, indeed. we are taking a look at a couple of the movers. looking first at darden restaurants. they are the parent of all of garden, red lobster, longhorn steakhouse. that is something we will continue to watch. we will move over to retail. here is a look at tiffany and
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company. their fourth-quarter net was up 0.7%. they did issue a quarter view that was somewhat downbeat. not as good as some would hope. you are seeing off arrows for some of these names. dagen: thank you, nicole. apple peeping of its cyber defenses for customers. you can do this with your google account as well. facing pressure to shield consumers. you can set up apples new security feature by logging into the management page. we all encourage that, in fact. >> talking about a tech giant like apple. focusing now on main street.
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this is pretty scary in a lot of ways. they had a hearing about it on capitol hill yesterday. watch this. >> these attacks can be catastrophic. leaving many small businesses unable to recover. nearly 60% of small businesses will close within six months of a cyber attack. connell: with us now from buffalo, new york, the chairman of that hearing. congressman, thank you for coming on. that is quite a statistic. 60% of small business, according to this study, will close within six months of a cyber attack. >> well, connell, when it comes down to is we are trying to raise the issue of cyber security for small business so they know there is a problem. so many small businesses today
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feel like there is not a threat to them, but then when you ask them if they have a security policy, they do not. it starts with the board of directors establishing a policy for cyber security. making sure you have strong passwords. not the name of your college mascots, not the name of your dog, not repeating a username and making it your password as well. so many people are naïve in thinking it will not happen to them. when it does happen, as as we pointed out yesterday, the results could be catastrophic. a cyber attack accessing your bank accounts, rerouting your phone numbers so when the bank calls to verify your transfer it is redirected to the criminal.
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you do not even know it is happening. connell: you say that this is a philosophy out there that it cannot happen to me. just thinking about it logically, you may say, i will go out and attacked the biggest business that i can't get the biggest bang for my buck, so to speak. >> that is the thing, 20% of all attacks today are on small businesses with fewer than 250 employees. those are the companies that think it will not happen to be. it is happening. it can be catastrophic. all of the information on your employees. their social security numbers. what we are seeing is they are accessing a list of passwords and user names.
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they know a lot of americans use that same username and password again and again. they are accessing tens of thousands of sites where they are getting hit with the same username and password is working on multiple sites. connell: tell me then, specifically, what, if anything, we should do about it in terms of government involvement. we have a lot to do with already. we do not want more regulation. we do not want our cost to go up. what is the role of government and what is the proper line to draw in the sand with that? >> you made a good point. shining a spotlight on cyber security and the need for small business to be more diligent than they are.
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we are also going to be very cautious in making sure we do not have regulations on the reporting of an attack. the cost to have that capability would be quite onerous. making sure small business knows they just cannot sit idly by and understand they have an attack when it is too late. they have to have policies in place. they have to educate their workplace. connell: great stuff. we want to point out in the next hour here on fox business that cheryl casone will wrap up what has been a weeklong series on taxes. they have an expert panel coming on answering your questions. they will be doing a lot of this on twitter. you can tweet in right now. just use the hash tag tax pain.
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dagen: you are tweeting a lot during the game yesterday. i was kind of excited to see you tweeting actively. meantime, here to talk, wayne rogers. he is worried about more cities and towns going bankrupt. why are people buying invisible bonds hand over fist? connell: always good to talk to wayne. jeff flock. we will see if there is still time for you to get in on that. before we get to all of that, let's take a look at treasury yields. ♪ [ male announcer ] this is joe woods' first day of work.
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>> i am lauren simonetti with your fox business brief. an $8 billion stock repurchase for ppe. it closed on the sale of its 50% investment. it received $12.5 billion in
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cash along with an 18.5% stake. analyst site that retailers see a strong program of buyback as well as dividend increases. the cash register maybe on its final sale. stores nationwide opting to ring up sales on smart phones. walmart already testing a scan and go app. that is the latest from the fox business network. giving you the power to prosper. ♪ matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. and launch your dreams. today is gonnae an important day for us.
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you ready? we wanna be our brotr's keeper. what's numberwo we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some ameri's biggest cities. siemens.nswers. dagen: wayne rogers is here and he is worried there could be an increase in towns and cities filing for bankruptcy. why are people then still excited about buying municipal
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bonds? wayne rogers is joining us now from pensacola, florida. why are you worried and why are people still snapping up municipal bonds as if they are worried? >> if you get a pre-refunded aaa bond that everything will be all right. you are looking at it as a financial instrument and you will get a decent return. however, i did not think that is the risk anymore. we have five cities in the state of california that are bankrupt. you have calpers now going into the court in san bernardino on behalf of their pension plan, which is massively underfunded and going into court to get in front of the bondholders. your risk is no longer just
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financial. you have a major political risk now and i think you have to take that seriously. dagen: when it that risk at least be factored into the price? you do not really see that. are they ignoring these risks? >> yes. i do not think they are of immediate risks, but they are there. in the general motors case, for example, the taxpayers got put in front and the union got put in front of the bondholders. if you were a bondholder in general boulders, you will wait for your money. massively, these pension plans are so massively underfunded.
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somebody will get caught holding the empty bag. dagen: why is it a risk outside some of the isolated communities? you mentioned the 1 town in alabama as well. >> it is not. i think it is a gimme. fifteen-20 years ago, you did not have this. they cannot meet their expenses with the existing revenue stream. they continue to spend like crazy people. people are just running wild spending money. dagen: i want that job. wayne, it is good to see you. >> we all want that job. dagen: exactly. [ laughter ] dagen: it was terrific to see you, as always.
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be well. connell: let's go to nicole. you have hewlett-packard up about 2%. american express, 3m and walt disney doing well. we are buying things that are a little less risky. today is one of the days where they are buying everything. united technology, disney, 3m are some of the top performers on the dow. things are pulling back a little bit. we will wait for more headlines out of cyprus and europe. we may finish positive for the
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week. we will see. dagen: the new blackberry on store shelves today. there have been mostly positive reviews for this new smart phone. you can take a look at shares of blackberry. they are up 8% this week. the big question is, is it better than, you know what. the iphone. or even samsung. the android phones. connell: let's talk about farmland now. prices have doubled since 2009. it is leading to the talk that there may be a bubble forming in the markets. dagen: jeff flock is on a farm in grundy county, illinois. it looks cold. jeff: what is hot right now is
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farmland. i am standing on a piece of ground that will be auctioned tomorrow. i have the man who is going to do it. he has seen a lot of stuff over the years. take a look at these numbers first. that is crops. the increase of price and crops versus the increase of price and farmland. it pretty much years one another. >> it sure does. jeff: if you take a look at a map, it shows you where. right here is one of the highest increases in the country. >> yes. grundy county has some of the highest land prices. jeff: by the way, he draws up in one of his talks. he has an auction is up there. that is where he does it. right in the middle of the field. >> right. we drive right through the farm
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machinery and sell it that way. jeff: you did not get a bubble. farmland did not have a bubble. are we getting there now? ground around here goes for ten, $12,000 an acre? >> we have sold approximately 15 properties in the last month and our range is nine-13,000. it depends on the property and getting some really good prices. jeff: it is not just the farmer down the road that wants some good land. >> investors look at this and you still get a good return on farmland. jeff: i will give you a look at what this piece of land looks
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like. connell: put us down for a few acres. dagen: i am lucky i got off the farm. tired of waiting behind that guy with bill roll? american airline has an answer. i am so excited for this. connell: a good day for the markets. there are some louvers. we will be back with more markets now it just a few moments. keep it right here. ♪
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connell: if you are tired of getting stuck boarding an airplane, listen to this. american airlines rolling out a new test program. allowing passengers without carry-ons to board first. less congestion, american conveniently takes a little bit or money since the carry-ons free passengers likely paid to check their bags first spam or families are allowed to board early. not kids whose voices are so old
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their voices have already changed. connell: i will remember that the next time we fly together. dagen: as we told you earlier about pepsi changing its auto. coca-cola is cutting 750 jobs in the u.s. the jobs represent only about 1% of its workforce. in a memo to employers, coke noted it has identified areas that must be improved since buying the north american operation. shares of coca-cola are black. connell: we have the whole deal going for you today. dagen: cheryl casone wraps are
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series on tax paid. grover norquist is here. connell: an all-star panel ready to answer your twitter questions. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition
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♪ dagen: noon eastern time, markets now. hello. taxpaying, giving you answers. the culmination of a week-long series of surviving what could be the toughest tax season of your life. and we are ready to hear from you. tweet your tax questions to at fox business. we have an all-star panel readied answer those questions and give you a vice thought and how you can plant not only this return to what you should be doing for next year's return,
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which is really when the tax will hit the fan. plus, americans for tax reform president grover norquist will be joining me in moments on white washington just will not listen. he has a plan and says you need to hear about it all this hour on fox business. of course, many other great stories including the markets which is not release a great story right now. at the top of the hour with nicole petallides that -- standing by. these markets go higher, but we're breaking a few records, and not a good way. >> reporter: a lot going on. will years -- what we are seeing, dow jones industrials sitting right at 14,500, up and a half to 1%. the nasdaq doing okay as well, almost one-half of 1%. bank stocks, retail stocks all doing well. the sentiment right now is positive, and we may even go positive for the week.
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i want to talk about a couple of names that beat the street. nike and tiffany, both of which came out with numbers. nike hitting an all-time high after their fourth quarter net income came in and beat the street. tiffany, a big mover. earnings beat the street. the story for nike and a lot of the analysts are jumping on board and reiterating that buy rating. global sales numbers were really good for nike, making higher margins and future orders look good. for tiffany, the fourth quarter came in just under 1%. they issued a down beat. overall they did beat the street, and that is why you see that up arrow there for tiffany. tiffany, a very popular retailer, household name making their numbers for the quarter. cheryl: all right. thank you very much. we will see you 14 minutes from now, as we always do. the dow may be breaking its 5-week winning streak today. the nasdaq and the s&p as well, may be ending.
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the markets are really -- really watching cypress as the small island struggles to avoid a financial crisis. the contagion could spread to other countries. portfolio manager with me now. you say that three years from now the european monetary union is going to look completely different from what we have right now. >> correct. cyprus is a small issue. i fully suspect that there will be a band-aid put on that courtesy of the ecb. the real issue within the eurozone is the political windy shifting to more of a populist kind of vote. you take a look at italy. quite euro, opposed to the euro, being part of the eurozone calling gaining traction. we are expecting to see some of the weaker nations, perhaps cannot easily bailout of the eurozone, which does not mean it has to be catastrophic for the
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financial system and all. cheryl: sure. >> nonetheless, three years from now it could look significant. cheryl: you're basically saying cypress is going to go with it needs to. one of the things we have been watching closely is the u.s. dollar versus the euro. international investors taking that safety play and went to the u.s. dollar the away from the euro. that exacerbates their problems. >> also the fact that the have the eurozone economy actually contracting greater than half a percent per year. it's going to look like that for 2014. the united states actually grew at a gdp rate of 3 percent, which is extraordinary. cheryl: the u.s. markets. a couple of things happening on this side of the pond. first and foremost, the dow which is looking to break a 5-week winning streak. s&p, nasdaq. at sending. so at this point, that pause that we seem to be seen. i'm curious if you think that this is going to be a short-term pause or long-term pause for
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u.s. markets. >> i think we're in a point in time where it is now the show-me part of the market cycle where you have this liquidity from rowley courtesy of federal reserve, the ecb, the bank of england. now you will have to see handoffs for more of an earnings driven market cycle as well as an economic cycle. what you can see happening is that earnings are relatively flat for q4 as well as q1. cheryl: you're calling s&p 1575, looking at an s&p call of 1575. you're saying we're fairly valued. their earnings per-share estimate. that is not a lot of growth. >> no, it isn't. last year, 2012, you had about 99-$100 per share. looking for a 5% upside. the expectations of more like 113. again, have to bring this back.
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expectations by economists and market strategists is year-over-year, earnings to not grow, actually be flat. cheryl: you have a couple of stock picks of want to get to. but we saw yesterday, some weakness and there has been some concern. you like cisco. and then you also like ibm. cisco is up about 9%. what are you seeing in that action? 1/5. >> of value play. $4 of cash per share. they're going to turn around $2 per share. treading a 21. the company's revenues are growing in a consistent manner. operating margins are improving and its well-capitalized. if you do did an uptick with an economic growth on a global basis cisco will actually benefit. cheryl: a you feeling the same thing from ibm? year-to-date it's about 10%. really not a big mover in 2012.
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the year-over-year minor -- number. >> value play. ibm trading at a below market multiple. has had a consistency on revenue for the last several years. operating margin expansion. the tax sector as a whole is quite undervalued. you can find growing profit for well-capitalized companies. cheryl: always good to see you. you know, we will play it as we go. we'll see you soon. thanks. ♪ cheryl: grover norquist of americans for tax reform says we don't need higher taxes in order to balance the budget. in fact, he argues that taxpayers are paying $2 trillion more than what they should be expected to. grover joins me now. agree to have you on the show. want to wrap things up with you, in particular this week because we have seven tax brackets.
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you are calling for two. paul ryan and his budget calling for two. washington seems to not be able to make this happen. what's going to change? >> well, the house of representatives just passed the ryan budget. as you say, the tax reforms takes us to to rates. core rate, 25%. the balance without raising taxes. every pound and it tells you, the only way to balance the budget, the only way to reform government is to have tax increases in the makes. this is actually squared by cbo and joint tax to be a sound budget. it passed the house of representatives. we are getting today is of the senate will vote on a budget. they have not done that and over 1400 days, for use at is the beginning of the senate getting their act together the democratic senate has not been doing its job for more than
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four years now. cheryl: all right. let me like a couple of things with you. in particular, i think this is important and we have graphics to back this up. if you look at the tax structure and the population that are paying taxes and those that are not, the bottom 20 percent don't pay any taxes, this you know well. we're talking about the fair share. the middle 20%. the top 20% pay almost 30%. you also look at federal income from taxpayers. the taunton% in this country. connell: the% of federal revenue the republicans have been so beaten up over this issue. unfortunately the president seems to be winning the public relations battle. does this change this year, and will this change my return for next year? >> she was winning the battle last year. he certainly defeated governor romney, we have not seen his approval ratings, the pupil just
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came out, his approval ratings a down to where bushes were in 2004. they have dropped dramatically since the election, since december. and part of that is because he has been playing tax increases. he tries to divide people and then raises taxes. he's not threatening to raise taxes on everyone. many of the taxes to pay for obamacare had all americans. it's not targeted just a few people. politicians play trickle-down taxation. this said it will tax the rich and it trickles down to tax everybody. americans have begun to figure that out. cheryl: corporate tax rate. paul ryan 1725%. you think will happen? >> eventually will because it has to because the european average is 25%. or a 35%. obama has raised taxes on subchapter s companies that pay
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smaller firms and some bigger ones that. the individual rate up to 44%. europe said 25. we're 35 and 44. this is one of the reasons we're not as competitive. as a self-inflicted wound. cheryl: one of the big issues that we will talk about later on is the changes and obamacare affecting taxpayers for next year, 2013 return. i know paul ryan wants to repeal obamacare. that doesn't happen. do you think cut medicare tax, excise tax can be addressed? >> there will be efforts. the house representatives well. the democrats still run the senate. when people complain about congress not being able to do something, you have a republican house, which has passed budgets. past the ryan budget more than once and the democratic senate which until today has not passed a budget for years. can we pass it through the house? yes. will they pass it through the senate can act as long as the
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democrats are running. cheryl: grover norquist, it would finish up this friday. thank you for your time. of course, we will be following what washington does to because it affects our tax bill. we will be wrapping up our series with an expert panel to answer your tax questions. you want to tweak your questions . we will be helping you with your tax returns and about 30 minutes. coming out, unscrambling. branded allen -- brand ads are outselling. this deal will be joining me. plus, they are ready, the panel is ready to answer your twitter tax questions. ♪ all stations come over to mission a for a final go.
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♪ cheryl: 15 minutes past the hour. stocks now, every 15 minutes. fox business team coverage. phil flynn at the trading pits of the cme. charles is showing us how to make money on computer chips, to be specific. first, nicole, on the floor of the nyse-listed the dow is trying to turn positive for the week. >> reporter: looking at this level. the dow, nasdaq i s&p, all remaining in the green. respond. people are buying across the board. still in the green. the level you want to watch to see whether or not we're positive for the week would be 14,514. you can see where below that 14,500 mark. as far as we're seeing in the dow jones industrials, majority of stocks remain well into the green. also watching the tech-heavy nasdaq and the s&p 500.
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it seems that cypress story, just not really front and center, at least at the moment. there will react. for the moment they're continuing to trend. the stock exchange. the upside. >> reporter: the oil prices are paying. it's actually affect the markets and for ways than you might think. optimism, getting a possible deal of the weekend, have your prices go up. you had to that, the wti crude futures were up $0.44. getting a boost from the jobs numbers here in chicago. but if you look over the pond in europe, crude, the spread between the wti has come the closest and over two months. that is a sign that they are still concerned about what may happen in europe this weekend. still some concerns about strong demand in the u.s.
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cheryl: all right. thank you very much. it is time to make some money with charles. taking a look at chip-maker. just set a new intraday high, and they are -- >> micron technology's. it's not the all-time high. the numbers are pretty good. the reported trouble when i like, first of all, pretty good guidance. the gross margins. i love that. it by the way, i hated the stock for a long time, but it could be a good risk reward plate. any time i think about micron i think about jr, one of the great american success stories. a 14 year-old kid grew up in idaho. his next-door neighbor and a lot of wind, but he was an alcoholic. he worked the land and ended up owning a lot of it. the first guy to commercialize frozen french fries. then he put the seed money into
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micron. anyway, long story, but it's worth making. the stock with $2 in 1992. january, 2000 it hit $80 per share. cheryl: hello-a relationship. and looking at it. >> you lose interest. it looks like they're getting their act together. cheryl: $10. you like the numbers. i'm assuming there is more an international route story coming >> there is, but like the margins getting firmer. cheryl: and the earnings. >> the earnings came out. that is where we get this information. numbers were not impressive. the margins were somewhat impressive. cheryl: and need to see the earnings for the next quarter. on following your advice. >> chilly chasing it. you chase today's move and hopefully we will see it again and get a 12, $13 -- cheryl: how will the layman day trading career. >> well, -- cheryl: i've no idea.
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thank you. taxpaying getting you answers. we want to hear from you. tweet us your tax question. @foxbusiness #taxpain. an all-star panel is ready answer your questions. it will give you answers. survival is not a fun tax season coming up ten minutes from now. ♪ investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easi but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors
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♪ cheryl: at 23 minutes past the hour, you're richarddfox news minute. the u.s. senate will begin a marathon voting session on the budget. under the rules, any senator can introduce an amendment. senators of already started voting on other amendments. they have approved one, eliminating the obamacare tax on medical devices. it could last more than 13 hours. a marine shot and killed two people at marine base quantico before turning the gun himself. authorities say the issue was a staff member at the officer caadid it's cool. the two victims, one male and one female board of active-duty marines.
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three days ago seven marines were killed at a nevada training accident. president obama ended the israel portion of his middle east trip that the visit to israel's memorial to honor the victims of the holocaust. the president is now in neighboring jordan for talks. those are your headlines. piggyback not to cheryl. cheryl: thank you. well, with easter right around the corner we are approaching the top-selling week of the year. sales of eggs during easter week are up 45%. joining me now, ceo and president. one of the more successful egg sellers in this country. sixteen years, you've seen double-digit growth. it's amazing to me. >> it just shows you that we have a better product, and it shows that we are providing a product to the customer that the customer wants. cheryl: i didn't think egg to become so popular. prices are going up. a short supply.
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>> even though prices have gone up, let's say their best eggs, you have to, that ties the press of a candy bar for a full meal. all the protein, awful great meal for half the price of a candy bar. in essence, eggs are not expensive. they're still variable. cheryl: you look at the last ten years. we have some tenure charge coming up. a few caprices, it's a big move upward. you're in that business. also, your selling the some of the biggest retail chains in the country. costco, walmart, safeway. you really have built a business >> it's a very big business. it's about 600 million in sales. but what happens is we don't price our products based upon a commodity nature. we price our products on what inputs will need to have to give the chickens the best diet to end up with an egg that's better tasting and nutritionally superior.
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if you look at the supply of corn, yes, the prices will go up a little bit, were trying to keep prices low because each day we are not in the commodity business. we're in the provide a better product business. cheryl: either way you picked a good business because u.s. consumption of eggs of the past ten years, it's just a straight shot up. the story is there. let's talk about the shortage right now. we have seen prices this year ago overall per dozen because of a supply shortage. what's going on? >> we will supply and demand, but that's the time of year. in may -- cheryl: easter. >> the getting prepared for easter. every season is easter because we're trying to sell food products. so the prices have gone up a little bit. markets usually go down after easter. a prices might tend to go down. our prices are more stable.
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this is a liar, but we believe. cheryl: if you by -- one of these consumers, if you buy a regular dozen eggs, you're paying a dollar 50. organic eggs by the dozen, that's $3 change. and no pay that, but it seems like more and more americans are willing to pay the higher price for the organics. you have both. >> we have everything. the organic, cage-free, regular. we have everything. they have shown based on our sales of 16 consecutive years with double-digit sales growth. they're willing to pay for a better product, and they're willing to pay for a product that tastes better in this up your. cheryl: how effective are you by the moves we see in the commodities markets? whether it's crane or -- >> corn definitely affects us and the price of the inputs that we have. are not going to compromise. or not, to compromise on our product is because the corn prices going up. we have to make sure we provide the best. cheryl: the special the egg
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business right now. interesting. not just for breakfast by the way. thank you very much. enjoy easter. it's going to be good. >> my pleasure. cheryl: will stay on the food theme for a second. pepsi is rolling out a new look for is 20 else bottle. not yet been the new york. the new bottle is going to showcase a smaller label and the new contour to the bottom half that is supposed to make it easier to grip. this is the first change since it was introduced back in 1996. the company says it will hit store shelves next month. take a look of the stock. interesting 1-year chart. march madness is under way. who is the in fet? coming out, the latest team
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rankings. a whopping 38 half million dollars. the numbers behind basketball. that will be fun. and on the show were going to keep on the number thing. giving you the answers. wrapping up a series. we want to hear from you. it's your turn. tweet us your text question. an all-star panel coming up next. you will answer your questions and give you tips. your going to want to stick around. ♪ [ male announcer ] this is joe woods' first day of work.
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♪ cheryl: time for stocks as we do every 15 minutes. you're watching bp. >> reporter: it is interesting because they're trying to bring in year and long-term shareholder value. today the stock right now is up almost 3%. you take a look at it. that's a winner. for the year it's up 1%. over the last 52 week sits down. they repurchased $8 billion worth of stock. the chairman of bp said that we expect to generate long-term value. and this buyback they're doing, this program should allow the shareholders to see benefits in the near term from the value that they realized by reshaping their russian business. they're giving obviously things for the near term and the
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extended outlook in order to try to make it better for the company as far as what we're seeing on the big board, or having a good day on wall street, about 70 points. you can see in the background, the ceo of the new ipo chatting. in ipo kicked off today. i was a winner. overall they continue to just buy them out. cheryl: thank you very much. it is the final countdown with taxed a less than one month away we have assembled an all-star panel to give some real advice for the small business average and high income filers. we have a tax officer for jackson hewitt, tax counsel for the nfib and managing director of bel air investments. i want to start with you in small business. that is the part of what has
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happened in 2012 and going into 2013 with his returns. small businesses seem to be very shape -- shaky, on shaky ground with regards to how the file on where a fine breaks. >> sure. it's an interesting year with all of the tax changes that happened in 2013. and while some of those were positive and that they became more permanent, a lot of positions that are important to small businesses a temporary. the business expense is one of the business to the biggest one of the small businesses use and that there able to immediately f purchases then make. that was increased to have to million dollars for 2013. actually going back to 2012. for this tax year it drops down to the 25,000 next year. that's an important thing to keep your eye on. cheryl: will stay on the small business team and go back to that moment. i want to talk to you about what is happening with the delay. it's a big problem because of
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the fiscal cliff negotiation. we were all waiting for forms that we did not get it. that is delaying everything. what do you tell people that are kind of up against the gun? >> well, all forms are now available. it up and running on all five at the -- filing requirements. they did start late. legislation was late. very confusing, and so they're still down seven or 8 percent on total filings year today. they expect to be up to person by the end of the year. people still have not filed for exactly your reasons. confused. changes. just this week they granted allowances to people will be filing to allow some penalty provision exclusion. so what i will tell people this file now, file as early as you can because sequestration is out there. the irs to laying their impact until after the tax season, but for taxpayers who file in the last week and last days, they
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will spill over into will be the time that the irs does start to handle some of that and could cause of the late. cheryl: the sequestration, not even the fiscal cliff is what is causing problems. the high income earner, whether it's the top 2 percent, top 1 percent, they have another host of issues when it comes to capital gains and dividends. they have to look at that at this point for next year. what he's saying to them? >> at this point there's nothing to be done for 2012. clearly even with a significant changes there is huge differential. so it becomes that much more important to continue to invest for long-term appreciation to get the benefit of those tax breaks. there is a lot that people did at the end of last year to try to take advantage of the changed
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in rates coming into this year, but if you did not do it at the end of last year, it's time to start focusing on next year. cheryl: has the problem. you have this last-minute selling, in particular in stocks of the end of the year. you have this last-minute selling rush is a trying to get those gains and. this going to have to be movement this year for 2013. and again not a financial advisor, but what are you seeing? you have these people come into your office. order telling the your -- or the telling you that they're doing to deal with it? >> one of the interesting things, because we are based in california, and a lot of our clients are california residents , we kind of have the double whammy in california with the federal rate going up and also california's rate going up. for the first time we have seen clients to a very wealthy think about leaving the state. that's one consideration, whether not a stay in states that have altered high tax rates we give people the advice that
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if they can afford to pay the taxes, you should live forever you want to live and let taxes not try that decision. but as angry as people are now, we have had a few people who have left the stage. that becomes voting with your feet instead of the ballot box. cheryl: we have actually done that story. and your coming out of los angeles. we had the story. several people have said that is it. all stars included. want to get to a question from one of our viewers. how do we minimize what we pay? it all seems a predetermined, like poker. you just have to read and we. i want to take this to you. how do we minimize what we pay? a half to beatrix. >> i don't know about tricks. the law is a lot. cheryl: okay. legal tricks. >> the number one thing that i will say for taxpayers, and it is pointed right now, the shortcut the preparation process just trying to get the return done. they don't necessarily miss a
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trick, they simply leave off a benefit whether it be a noncash charitable deduction, education benefit or they don't maximize some of the rules that are currently on the books in a hurry to get there tax return done. be more engaged. cheryl: pay better attention. >> keep better records, document your not -- mileage, noncash contributions to measure taking care of, parent, overlooked deductions create the greatest disparity, not knowing the loophole or not knowing the tax trick. paying attention to rules as they aren't taking advantage of every possible tax deduction and credit. cheryl: the most traded vice for the average filer, and i want to get advice for high net worth individuals and small business owners after we take a quick break. the all-star panel stay rare right here. we will be right back with more answers to your questions. stay with us. look, if you have copd like me,
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big positions in these panels. and shares of marion software are soaring on the company's new york stock debut. the on-line at management company strong ipo comes on the heels of wednesday's successful offering from revenue management software company model and. and starting this sell premium seats on cross-country flights. it will only be available on daytime flights. the airline has been using passengers on cross-country flights because of its lack of first-class or business seating. that's the latest from the fox business network, giving you the power to prosper. ♪
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thank you orville and wilbur... ...amelia... neil and buzz: for teaching us at you can't create the future... by clinging to the past. and with that: you're htory. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simp saluting history... we're making it. cheryl: it's been 15 minutes. it's time for stocks. nicole, you are watching the supermarkets. >> reporter: i am, indeed. let's take a look because we have safely hitting a 52-week
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high. you can see super value of about 6%. actually, super value the mother are changing, making a new appointment to their executive team. that is something we're watching. the independent business provision of super value is the primary growth, inspiring nearly 2,000 of the country's most successful independent groceries across 43 states. obviously a big one. annual sales of approximately 17 billion. when you watch these renames it can obviously be noted they are participating in a rally where we are continuing to see up arrows. back here in maastricht, it -- back here in wall street. the trend is your friend. it continues to move the market to the upside. we will see whether it returns positive for the week. cheryl: thank you. our panel continues. with me now, our panel.
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and i want to get into daryl, to you on this issue of how the save money because the high net worth individuals looking for every shortcut that they can find, how to pay less. what would you say to them? >> well, there are both investment strategies that make sense and also structural aspect that makes sense as to how you invest. so on the strategies and clearly in need pay attention to the tax impact of the investments that you make more than ever now, certainly more than a loss of the years. and so certainly municipal bonds , everyone knows their tax-exempt. if you stay within your state, but state and federal cannot allow the people are aware of the tax benefits of master limited partnerships. mastered -- and lps. gas pipeline investments. pretty steady cash flow.
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the yield of 6%. the returns are mostly return to capital. eighty, 85 percent of the distribution is returned to capitol. cheryl: very, very popular with high net worth individuals. and has become very popular investment vehicle, especially at the end of last year. i want to bring back in chris. as a small-business owner, you mentioned earlier that they have to watch their expense in and make sure they get all the deductions. even for this return. what would you say to small business owners. how can i pay less? >> well, similarly there are a host of deductions and credits that they should pay attention to and make sure they take advantage of. for example, the home office deduction is something taxpayers and small business owners sometimes are reluctant to take because as a little complicated. it can really offer a bang for your buck and be something that is important. it's also worth noting, this is going forward, but a new
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simplified home office deduction . starting in 2013 and allows a straightforward $1,500 deduction cheryl: the home office deduction surprises me. small-business owners working of a home don't take that. that's one of the oldest. i want to talk. i want to go back, if we can commit to darrell. you mentioned that we have had many high net worth individuals sam going to move, to other states. if you look across the country, the state income tax issue. look across the country. you've been focusing on this. new york, connecticut, new jersey, california. and then you have those that have no state income tax. texas, florida. where they going? tell me where they're going. >> from california the movement has been toward nevada and texas it is just a trickle. it's not a major flow. people who are kind of on the
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fence about whether they are committed to be in their high tax states, lots of wonderful places to live. and so they have more freedom. particularly if you sold the business and don't have the same requirement to be in a particular area for your livelihood you have more freedom and flexibility. cheryl: that is not a surprise to you i'm assuming that you're seeing people change. of the top issues. >> a big life change. retiring and saving taxes and natural. if you go to a state that meets your lifestyle -- lifestyle requirement and save a few thousand dollars. cheryl: not only are your retiring, but you're moving and getting hit with even a bigger tax. >> and back to the original point, that's a huge life change with more than just the retirement. what do you get to deduct as you consider that, home sales.
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cheryl: one last question. deferred compensation. some companies offer what is called deferred compensation were you can actually push compensation often to you leave the company. do you recommend that? >> every situation is different. it depends on where you move, were you stay, how your plan is, your options. it is one of those vehicles were you have to look your entire portfolio in terms of minimizing taxes. everything from the ira to rules set your investment and structural strategy, all that needs to be considered to lower taxes because rates are so high that the return on your investment of time will pay off. cheryl: i think that americans are looking at any possible way that they can to reduce their exposure. will we now have is a terrific tax environment. >> know it's several thousands of dollars. cheryl: thanks to all of you. different perspectives on the
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tax environment. it's rough out there. thank you for being here. >> a pleasure. >> thank you. cheryl: all right. let's share something highly -- happy. new jobs. unemployment is down. the reasons why coming up. as we go to break, let's take a look at someone in names overall on the nasdaq. we will be right back. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one.
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standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers.
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♪ cheryl: time for your westcoast minute. san francisco's union bank is expanding in arizona. the bank has decided to open a new mortgage operation center. the center is expected to create 250 jobs. the governor offered tax incentives to union bank which is owned by mitsubishi financial trading and the new york stock exchange, up over 16 percent year-over-year. the employment picture is much better in hawaii. initial jobless claims were down 25% we cover week. every county, except the big island, has double-digit increases. and let's call this march madness. in spokane, the ravens, the company sells what is called the sag's blend. never a big seller until now.
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both the men and women's team are in the n.c.a.a. tournament. the coffee chain cannot keep it in stock. there are more items to come based on the teams. and that is your west coast minute. well, it is the 11th hour for cyprus. the latest on bailout talks still happening. plus, steve more of the "wall street journal" weighs in on whether the plan makes sense or if they should just go bust. and you can look, but you cannot take it home. how e-commerce is changing the way you can shop. coming up next. ♪
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